D.C. Commission, in Surprise 2-1 Reversal, Approves Pepco-Exelon Merger

first_imgD.C. Commission, in Surprise 2-1 Reversal, Approves Pepco-Exelon Merger FacebookTwitterLinkedInEmailPrint分享Thomas Heath and Aaron C. Davis for the Washington Post:District regulators approved a $6.8 billion merger between Pepco Holdings and Exelon on Wednesday, creating the largest publicly held utility in the country.The decision marked a surprising turn of events for the deal, which D.C. regulators had rejected twice and which appeared to be on life support in recent weeks as D.C. Mayor Muriel E. Bowser (D) and other city leaders lined up in opposition.The merger means that Pepco will be absorbed by a company with the largest number of nuclear reactors in the country and widespread operations throughout the Mid-Atlantic, Midwest and New England.The sale affects about 2 million Mid-Atlantic electric customers who are served by Pepco Holdings, including more than 815,000 ratepayers in the District and in Prince George’s and Montgomery counties.And it is widely expected that those customers will see higher electric rates — possibly as soon as this summer — as has happened in Baltimore and other cities after Exelon acquired energy distributors. Pepco has not sought annual rate increases since 2014, when Exelon first proposed its takeover of Pepco, despite having made capital improvements.Neither Pepco nor Exelon claimed victory after the vote, in part because stakeholders can seek a stay on the order’s implementation.The utilities wasted no time in completing the merger, announcing late Wednesday afternoon that both sides had completed and filed the paperwork. Pepco stock would cease to exist as of Thursday, with shareholders receiving $27.25 per share.“Today, we join together as one company to play a vital role as a leader in our industry and the mid-Atlantic region,” Chris Crane, Exelon’s chief executive, said in a statement.Joseph M. Rigby, previously chairman, president and chief executive of Pepco Holdings, officially retired Wednesday. He was replaced by David M. Velazquez.Bowser and other officials did not say whether they will try to squash the merger. In a statement, the mayor said residents should brace for higher electric bills. “It appears the Public Service Commission favors government and commercial ratepayers over DC residents,” the mayor wrote. “Instead of a three year rate increase reprieve that we negotiated, it appears that DC residents will be hit with a rate increase as soon as this summer.”Anya Schoolman, head of the nonprofit group Community Power Network and an opponent of the deal, said she was “shocked” by the reversal.Power DC, an umbrella group of community organizations that opposed the merger, voted to fight on. “By approving the merger, the PSC has exposed our city to decades of higher rates, weakened its own ability to guide our city’s energy future, and helped ensure that DC will fall behind the rest of the US on clean, efficient energy,” the group said.D.C. Council member Mary M. Cheh (D-Ward 3), a fierce opponent of the merger, blasted the commission for the reversal.“What we’re doing here is fundamentally not in the public interest for the ratepayers or people of the District of Columbia,” she said. “I’ll tell you who the beneficiaries are, quite plainly: It’s Exelon and the shareholders of Pepco who get a big windfall out of this. Those are the people who won. . . . The rest of us, we lost.Full article: D.C. regulators green-light Pepco-Exelon merger, creating largest utility in the nationlast_img read more

Luke Walton undecided on Lakers starters for opener

first_img Newsroom GuidelinesNews TipsContact UsReport an Error As his Lakers coaching debut approaches, Luke Walton said he was still deliberating his starting lineup for Wednesday’s season opener against the Houston Rockets at Staples Center.“We’re still in debates over there. We’ll have one though,” Walton said with a dose of humor following morning shootaround Wednesday at the Lakers’ practice facility in El Segundo. “We’re going to put names into a hat and pull one out.”Walton said it was safe to pencil D’Angelo Russell in as the Lakers’ starting point guard. Other than that, Walton said he has weighed “three different combination options.”Based on his rotations used in exhibition play, spots appear undecided at shooting guard (Lou Williams, Jordan Clarkson) and small forward (Luol Deng, Nick Young, Brandon Ingram). Walton highlighted the possibility his starting lineup can change “night to night.” But he sounded hesitant on outlining a sample size when evaluating whether to make changes to his starting lineup. Last season, former Lakers coach Byron Scott moved Russell and Randle to the bench in place of Williams and Larry Nance Jr.Although the Lakers’ starting groups have labored through poor starts in exhibition play, Walton understood the fine line between holding his players accountable and allowing them to grow through their mistakes.“It’s tough to put a number on that. You get a feel for it. You see how they’re playing together. But to say 20 games and then I’ll know, I can’t do that. It’s a feel thing,” Walton said. “It’s tough. They’re the young players and future of the team. If Brandon plays terrible tonight, we’re not going to bench him or whenever our next game is because he’s a big part of us going forward. Part of our job is getting him minutes and getting him experience out there.”center_img Center Timofey Mozgov started in seven exhibition games before sitting out the preseason finale because of a sore tailbone, though Walton expects him to play against Houston.Power forward Julius Randle started all eight preseason contests.Deng missed the past three exhibitions because of a sore left leg, but Walton expects him to play as well. Deng’s absence coincided with Young starting because of his unexpected emergence. To accommodate his strong play and adjust for Jose Calderon’s weeklong absence from a strained left calf, Ingram will play some minutes against the Rockets at the point guard spot.Amid all those possibilities, Walton sounded mixed on how long he would keep a starting lineup intact.“I like the idea of the consistency of having a starting lineup. But it’s also important for our guys to realize it’s a long season,” Walton said. “Everyone is going to have different opportunities and we’re going to need everyone to step up, whether that’s injuries or matchups.”last_img read more

Blue Jays’ stadium in Buffalo hosts its first MLB game of 2020

first_imgThe Blue Jays finally set flight in their temporary Buffalo home on Tuesday night.The team, which can’t play in Toronto during the COVID-19 pandemic, hosted the Marlins at Sahlen Field. The ballpark usually serves as the home of the Blue Jays’ Triple-A affiliate. What is the name of Buffalo’s baseball stadium?Buffalo’s baseball stadium is called Sahlen Field. It was built in 1988.Has MLB ever played in Buffalo before?MLB has played in Buffalo — more than 100 years ago. The last big league contest in the upstate New York city came in 1915, when the short-lived Federal League held Buffalo Blues games.What are the features of the Buffalo baseball stadium?Social distancing rules, combined with the limited confines of a Triple-A venue, have made things weird at Sahlen Field. Perhaps the strangest quirk is the visiting clubhouse being a tent in a parking lot behind the right field wall. Brighter lights have also been added to the ballpark, and plenty of Blue Jays logos are pasted around the makeshift MLB home. While the game did not have the appearance of a typical big league setting, it did the job during the most unsettled time for U.S. sports since World War II.The transformation is complete! Welcome to Sahlen Field. #WeAreBlueJays pic.twitter.com/37ObFtGJND— Toronto Blue Jays (@BlueJays) August 11, 2020MORE: MLB hammers Cintron with huge suspensionHere’s what to know about the occasion and how the Blue Jays ended up in Buffalo:Why are the Blue Jays playing in Buffalo?Canada has the COVID-19 pandemic under better control than the U.S., and balked at the idea of MLB teams streaming across its border. That left the Blue Jays scrambling for a home as Opening Day approached. Pittsburgh was floated as a possible destination, but the city nixed the proposal. Because minor league baseball was canceled this year, Buffalo emerged as the top option for the club.last_img read more